Elliott Wave Analysis 09/12/2016

EUR/USD
The EUR/USD is now in a down trend, having finished a Primary wave B. The pair broke to the down side of a 2 year triangle on the news of Donald Trump’s surprise win of the U.S. presidential election. It is now starting a Primary C wave, which should eventually move the euro below parity with the dollar.

eurusd_dec_2016

GBP/USD
The GBP/USD is currently in a corrective wave (4) of a 5 wave pattern, which may see sterling recover against the dollar to around 1.2800-1.3480 from a low of 1.1949. The pair should then reverse and break the 1.1949 low as it forms wave (5).

gbpusd_dec_2016

london-trader-waves-2

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